. In fact, any human action is the outcome of a process of thought which means that there is no action without theory …. Therefore, the necessity of theorizing is not debatable, but the important problem is to select the most relevant theory. From … this point of view it is striking that most commentators did not refer to the most relevant theory to explain the recent …

features. For this purpose, Carl Menger's theory of goods is taken as a starting point. Whereas economists after the … 'marginalistic revolution' were almost exclusively concerned with the determinants of exchange value and developing price theory … connection between Menger's 19th century theory of goods and 20th century learning theories is established. The problem of how to …